Spirax-Sarco Engineering PLC Electric Thermal Solutions Business Update (4372M)

TIDMSPX

RNS Number : 4372M

Spirax-Sarco Engineering PLC

23 May 2022

News Release

23rd May 2022

Electric Thermal Solutions Business Update

Spirax-Sarco Engineering plc, the multi-national thermal energy management and niche pumping specialist, provides an update regarding the loss-making Chromalox manufacturing facility in Soissons, France, which is part of the Group's Electric Thermal Solutions Business.

We have today commenced a consultation with trade unions regarding the financial underperformance of the Soissons facility and its consequences, including potential closure of the site.

Our team's immediate focus is to support our 61 colleagues affected by the consultation at this uncertain time and to minimise the impact on our customers.

Electric Thermal Solutions remains fully committed to its customers in the region. This consultation has no impact on any other Group facility in Europe or elsewhere. Our full year guidance for 2022 remains unchanged.

Enquiries:

Andrew Guthrie, Head of Investor Relations

Hazel Meldrum, Group Head of Communications

Tel: [phone]

About Spirax--Sarco Engineering plc

Spirax--Sarco Engineering plc is a thermal energy management and niche pumping specialist. It comprises three world--leading Businesses: Steam Specialties, for the control and management of steam; Electric Thermal Solutions, for advanced electrical process heating and temperature management solutions; and Watson-Marlow, for peristaltic pumping and associated fluid path technologies. The Steam Specialties and Electric Thermal Solutions Businesses provide a broad range of fluid control and electrical process heating products, engineered packages, site services and systems expertise for a diverse range of industrial and institutional customers. Both Businesses help their end users to improve production efficiency, meet their environmental sustainability targets, improve product quality and enhance the safety of their operations. Watson--Marlow provides solutions for a wide variety of demanding fluid path applications with highly accurate, controllable and virtually maintenance-free pumps and associated technologies. The Group is headquartered in Cheltenham, UK, has strategically located manufacturing plants around the world and employs more than 8,700 people, including almost 2,000 direct sales and service engineers. The Company's shares have been listed on the London Stock Exchange since 1959 (symbol: SPX) and it is a constituent of the FTSE 100 and the FTSE4Good indices.

Further information can be found at www.spiraxsarcoengineering.com

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